Guideline Value for Pillaiyar Kovil Street

Pillaiyar Kovil Street guideline value

The current guideline value of Pillaiyar Kovil Street in Kilambakkam village is Rs 1,200 per sq.ft as per the 2023 revision. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Pillaiyar Kovil Street has changed

The guideline value for Pillaiyar Kovil Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft. The most recent revision in 2023 saw a significant increase, bringing the value back to Rs 1,200 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. Between 2007 and 2012, the value increased by 20%. Overall, from 2007 to 2023, the guideline value has seen a 20% increase.

Guideline values in Kilambakkam

Currently, there are no specific guideline values available for other streets in Kilambakkam under the Gooduvancheri SRO. Therefore, the only guideline value we can refer to is for Pillaiyar Kovil Street.

Stamp duty and registration fee for property in Pillaiyar Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating fees.

Which Sub Registrar Office covers Pillaiyar Kovil Street?

The Sub Registrar Office that covers Pillaiyar Kovil Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kilambakkam

The guideline value plays a crucial role during property registration in Kilambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pillaiyar Kovil Street?

The current guideline value for Pillaiyar Kovil Street is Rs 1,200 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in 2023.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,08,000, which includes Rs 84,000 for stamp duty and Rs 24,000 for registration fees.

Which office handles the registration for Pillaiyar Kovil Street?

The Gooduvancheri Sub Registrar Office is responsible for handling registrations for Pillaiyar Kovil Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically. It takes into account various factors, including land classification and previous valuation trends.